Ekiti State Governor, Biodun Oyebanji, on Tuesday signed the 2026 budget, with a provision of N415.573 billion, into law.
Oyebanji had presented the budget proposal to the State House of Assembly on October 10, 2025.
He said, “The timely presentation of the Bill (to the Assembly) is in consonance with the recommendations of the Fiscal Sustainability Plan and also affords the lawmakers sufficient time to scrutinize the document and engage all relevant stakeholders.”
Describing the budget as the Budget of Sustainable Governance, Oyebanji stated that “it has a total size of N415,572,070,139.44, with 53 per cent allocated to Recurrent Expenditure and 47 per cent to Capital Expenditure.
“It is worthy of note that the fiscal document is a product of wide consultation with the good people of Ekiti State and prepared in line with global best practices.
“The programmes and projects contained in the 2026 Budget are in line with the Six Pillars of the administration, which stemmed from the State Development Plan 2021-2050,” he said.
He added, “The focus of the 2026 Budget is to complete all ongoing projects, while attention will also be given to food security, wealth creation, and infrastructural development.”
The governor noted that the budget would enable his administration, which will complete a four-year tenure in October 2026, to “consolidate on our achievements since the inception of our administration on October 16, 2023. In the 2026 fiscal year, we shall strive to meet our revenue targets to ensure the completion of all ongoing projects and initiate a few critical but strategic ones.
“We shall also further strengthen our relationship with development partners to provide support for specific, non-discretionary projects in the state.”
Oyebanji also signed the Ekiti State Revenue Administration Law, 2025, into law, describing it as a bold statement of his administration’s commitment to transparency, modern governance, and economic empowerment.
“By signing this Bill, Ekiti State officially becomes the first state in the federation to align its internal revenue laws with the four new National Tax Reform Acts.
“You will recall that I made a public commitment in October 2025 at the commissioning of the Revenue House that Ekiti would be the first state to pass the Bill into law. I thank God for the fulfilment of this promise today,” he said.
He added, “Revenue administration and tax laws are changing at the national and sub-national levels, and Ekiti must lead that change.
“This law repeals the Ekiti State Board of Internal Revenue Law 2019 (as amended) to bring us into full conformity with national legislation, adopt and promulgate the State Harmonized Taxes and Levies (Approved List of Collection) sent by the Joint Revenue Board (JRB), with technical support provided by the AGF’s secretariat, and affirm the commitment of the Government of Ekiti State to the implementation of the State Action on Business Enabling Reforms (SABER).”
Oyebanji said the law “reinforces our reputation as a reform-driven and business-friendly state, and sets a commendable benchmark for other states to emulate.
“The new law will institutionalise harmony, fairness, certainty, and accountability in sub-national revenue administration across the country. This legislation consolidates all existing laws and streamlines them for efficient, effective, and transparent collection.”
He assured taxpayers, business owners, and citizens that “this law introduces several transformative changes designed to protect you and foster growth. It will also enhance our fiscal and economic policies aimed at promoting investment.”
